This article delineates about the date from when the taxpayers can upload their invoices on GSTN portal and the brief introduction to the process of cross tallying the invoices on GSTN portal.
The government launched invoice upload facility on the GST common portal on July 24, 2017. Businesses can start uploading their sale and purchase invoices generated post-July 1 on the GSTN portal now.
The Goods and Services Tax has kicked in from July 1 and so far, the GST Network, the company handling the IT backbone for the new tax regime, has been facilitating registration of businesses.
“We plan to launch the invoice upload utility on the portal on July 24 so that businesses can come forward and start uploading the invoices on a daily or weekly basis to avoid a month-end rush,” GSTN Chairman Navin Kumar told PTI. Read More.
As laid down in the GST Act, the taxpayers will be able to see and cross tally the entries in the return data uploaded on GSTN portal by their suppliers and they are also supposed to upload the said details for the reference of their customers (in the case of B2B transactions). This will enable the taxpayers to check whether the supplies on which they are claiming Input Tax Credit are shown by their suppliers in their return or not and vice versa.
Hence, looking at it from a technical angle, GSTR 1 will be filed by the suppliers of taxpayers stating the outward supplies made during the tax period and by GSTR 1 filed by the said supplier. GSTR 2A will be auto populated for taxpayers where they can see GSTR 1 details of their suppliers and prepare their GSTR 2 accordingly, along with any additional entries if justified and backed by the Tax Invoice in their possession for the said supplies.
In the same manner, GSTR 2 will auto generate GSTR 1A which can be seen by the suppliers of taxpayers. This will help them check which are the supplies shown by their customers and they can amend their GSTR 1 accordingly or set aside/ alter those entries which cannot be traced into their system for the current tax period.
This system requires the real time updation and uploading of invoice details on GSTN portal; so that the real time reconciliation will be possible.
Now that the taxpayers will be able to upload the invoice details on GSTN portal, the reconciliation and match mismatch work will come into the picture.
As GSTN has announced the date from when the invoice details can be uploaded on the portal, now is the time for taxpayers that they should have systems in place to find out match mismatch entries and carry out the invoice wise reconciliation of the entries specified in the returns of other taxpayers (vendors and customers).